Monday, December 29, 2014

Does 'Value Investing' Work In India : Morningstar Panel Discussion 2014


Bharath Shah, ASK Group
Paragh Parikh, PPFAS
Kenneth Andrade, CIO - IDFC Mutual Fund
Shankar Naren, CIO - Equities ICICI Prudential AMC

SN invests in an asset which 

  • The asset is shunned by market
  • Past prices are not high
  • Valuation is low

Naren is impressed by Howard Marks observation about cycles. All asset classes go through cycles


BS feels value and growth go together and we cannot segregate them. Stocks should not be because it is arthimetically cheap. Low risk will get high returns.

KA feels need to buy good companies at a decent price and wait. Company has to be scalable and it needs to be in a significant industry. Get it right with the price while buying

PP when we buy a stock we should be looking at as buying a part of business and not just a piece of paper. To buy great innovative companies we need to look at listed companies abroad.

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